Taking care of genetic variance in the thread...
xave.de
here's the copy:
The industrialized countries must look for a solution for the world-wide poverty
by Marc Faber
The French director Andre D Cayatte made 1952 the film " Nous sommes tous des assasins" (we are all murderers). In the film a resistance fighter is condemned to death after the war because of murdering people. It is not just the criminal, who sits on the dock, it is all the people, who made themselves indirectly guilty through their behavior and their prejudices.
The terrorist raid in the USA shook us all deeply. What disappointed me, was the reaction of the American people. In the innumerable media reports nobody asked himself the question whether we, the rich industrialized countries, could have done anything wrong.
Were Spartacus, Hernando Cortez, Mao Tse Tung, Che Guevara and Nelson Mandela terrorists or heroes of the revolution? I assume that Aztecs and Incas regarded the Spanish conquerors rather as terrorists. The Romans saw Spartacus, the leader of the slave rebellions, as a danger to their empire. The dividing line between terrorism and rebellion against an existing order, between freedom fight and rebellion, is thin.
We occupied continents, destroyed nations, took away whole villages to slavery. We bombarded Iraq and Serbia, where numerous civilians lost their life. If it fit our goals, we helped despotic state leaders. if the government heads were uncomfortable to us, we supported the terrorists, who opposed them and even had them trained by the US secret service. We often promoted wars, in order to weaken certain countries and to secure jobs for our weapons industry.
Since the industrial revolution our politico-economic measures continuously increased the prosperity gap in the world. Today more must that a billion human beings have to survive on less than a dollar a day income. We have social security, but for the love of profit we refuse to sell cheap medicine to seriously ill people in the third world countries. We prefer to let them die.
Impoverished people have nothing to lose but their miserable life. They do not have a chance to defend themselves with conventional weapons. Terrorism and guerrilla war are a way for them to express displeasure and fight us.
We can probably annihilate the persons, responsible for the massacre in the USA, with a revenge campaign, but this is not he solution of the problem. We must think about how we to alleviate the poverty in the world.
The historian Will Durant writes that with increasing wealth an instable balance of power between few rich and many poor develops sooner or later. A crisis results. State interventions such as tax laws cause a better distribution of wealth as result, or poverty, through revolutions and wars, spreads on to the rich.
From investor view the attack on the USA can be unequivocally judged as negative. However all the markets are somewhat oversold. A recovery of some months could result. New tops however are not to be expected for some time. The dollar might lose further in value. Finally the attack uncovered some weaknesses of our economic system. Therefore the interest in gold and precious metals and thus their price might rise further.
--------------------------------------------------------------------------------
Marc Faber analyzes in BÖRSE ON-LINE the world markets from the view of one anticyclical investor. The often pessimistic prognoses of the fund manager, who's living in Thailand, earned him the nickname of Dr Doom.
Translated (unauthorized) from pg 142 Börse Online 42 by DJ |
